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Kadaga Calls for Support of Local Investment

The Speaker of Parliament, Rebecca Kadaga has called on the government to support the indigenous investment.

Speaking at the at the Buy Uganda Build Uganda (BUBU) Expo on Saturday, Kadaga said the government should endeavor to create  conducive environment aimed at uplifting the investors engaged in different sectors in the economy.

She noted that Uganda is blessed with enough raw materials to manufacture various lucrative products but high costs pose great challenge to citizens.

The Speaker revealed that she recently met a lady manufacturing leather, who is importing materials from Kenya since the price for the same is very expensive from Uganda.

“Like two weeks ago I met a girl; she is a local manufacturer of leather and is struggling with leather material. She travels to Kenya to buy leather because leather sold here is very expensive. So she buys materials from Kenya, manufactures from here and exports to the USA on her own,” said Kadaga.

According to the Speaker such local manufacturers need government support such local manufacturers.

“When we say liberalization, we don’t mean that government should abdicate it’s responsibility entirely, government should continue to support our people for instance in quality control,” she added.

Kadaga declared her support and commitment to BUBU initiative and appealed to fellow leaders and technocrats in different capacities to promote the same program.

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“I am a big champion of BUBU but some times I get frustrated by managers in government who do not appreciate this policy” she said.

The Speaker also revealed how Parliament was frustrated when a it tabled a motion  to enact a law on the local content  which she said was aimed at encouraging local participation in the economy.

“The Local Content Bill’s object is to promote participation of Ugandans in the economy, to achieve inclusive economic transformation by ensuring maximization of value addition and job creation through the use of local expertise, goods, services, business and finances” adding that “but when we brought the motion, people reported me and Parliament to the President, that we want to disrupt investors. We told him that your business is the welfare of Uganda and asked him on when interests of Ugandans will be first”

 

 

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